Morgan Stanley Lowers Check Point Software Technologies (NASDAQ:CHKP) Price Target to $220.00

Check Point Software Technologies (NASDAQ:CHKP - Free Report) had its price target lowered by Morgan Stanley from $235.00 to $220.00 in a research note issued to investors on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the technology company's stock.

CHKP has been the topic of a number of other reports. BMO Capital Markets upgraded Check Point Software Technologies from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $245.00 to $275.00 in a research report on Friday, March 28th. Guggenheim reiterated a "neutral" rating on shares of Check Point Software Technologies in a report on Friday, January 31st. The Goldman Sachs Group cut Check Point Software Technologies from a "buy" rating to a "neutral" rating and upped their price target for the stock from $204.00 to $207.00 in a research note on Thursday, January 2nd. Jefferies Financial Group boosted their target price on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, Compass Point set a $260.00 price target on shares of Check Point Software Technologies in a research report on Thursday, March 27th. Fifteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $235.50.

Check Point Software Technologies Stock Down 3.5 %

Shares of Check Point Software Technologies stock traded down $7.60 on Wednesday, hitting $207.36. The stock had a trading volume of 745,410 shares, compared to its average volume of 768,032. The stock has a market cap of $22.81 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 3.41 and a beta of 0.62. The stock's 50-day simple moving average is $221.71 and its two-hundred day simple moving average is $201.65. Check Point Software Technologies has a one year low of $145.75 and a one year high of $234.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Check Point Software Technologies in the fourth quarter worth approximately $428,820,000. Causeway Capital Management LLC raised its position in Check Point Software Technologies by 33.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,929,604 shares of the technology company's stock worth $360,257,000 after acquiring an additional 487,823 shares during the period. First Trust Advisors LP boosted its stake in shares of Check Point Software Technologies by 17.4% during the 4th quarter. First Trust Advisors LP now owns 1,822,787 shares of the technology company's stock worth $340,314,000 after acquiring an additional 269,925 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Check Point Software Technologies by 10.6% during the 4th quarter. Ameriprise Financial Inc. now owns 1,429,724 shares of the technology company's stock valued at $266,930,000 after acquiring an additional 136,699 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Check Point Software Technologies by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 849,546 shares of the technology company's stock worth $158,035,000 after purchasing an additional 27,267 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

About Check Point Software Technologies

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.